Items of Interest:
Global Property Bubbles: Not Bursting -- The housing bubble was not confined to the United States. If anything, the bubble here was later and smaller than in most of Europe. So it's hardly surprising that house-price declines are not confined to the US either. According to the latest Knight Frank survey, the year-on-year decline in New Zealand house prices is 2.2%; in Germany it's 2.5%; in the UK it's 3.9%; and in Latvia it's a whopping 24.1%, even bigger than the USA's 16.8% fall.
But more interesting, to me, is that globally, house prices are still rising, which is not necessarily what you'd expect to see in an article headlined "House price crash goes global":
Globally, the rate of house price growth fell to 4.8% in the second quarter of 2008, down from 6.1% in the first quarter of the year.
Fannie Mae and Freddie Mac: Avoiding the Next Big Mistake -- The biggest mistake that Congress and the next president could make about Fannie Mae and Freddie Mac is to leave them alone or let them get away with only minor changes. While both again seem temporarily stable after their stock took another sharp drop and failure seemed moments away, the calm is deceptive. The two have now seen the value of their stocks drop by about 90 percent since January...
- Lush lawn - higher home value - CNNMoney
- Betting On Builder's Stocks? - CNBC
- The World Is Not Ever Going To Be Like It Was - Housing Bubble
- Tucson Developer Not Desperate, Just Needs “Lots Of Cash” - Housing Doom